ACQUISITION / PRESERVATION / REDEVELOPMENT

Shore Hill Apartments

The acquisition was financed by a $102 million Freddie Mac loan arranged through Prudential. The Rose Affordable Housing Preservation Fund IV, L.P. (“Fund”), along with joint venture non-profit partner, NHPF, and co-investor Nuveen, a TIAA Company, will invest $52 million of equity in the property.


TOTAL COST
$ 154,000,000

DESCRIPTION
Shore Hill Housing, is a two-building, 558-unit HUD project-based Section 8 Housing complex.

FINANCING
Secured financing and funding for this project included:

$ 52,000,000Joint-venture Investment Fund




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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Founded in 1989, The NHP Foundation strives to provide quality affordable multi-family housing and resident services for low to moderate income families. Since 1994, NHPF has acquired and preserved 90 properties, totaling 16,000 units, located in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 49 properties, totaling 8,400 apartment units, in 15 states and the District of Columbia. NHPF also provides service programs to approximately 28,000 community residents.